Claret Asset Management Cuts Stake in Johnson & Johnson

Claret Asset Management Corp has reduced its holdings in Johnson & Johnson (NYSE: JNJ) by 0.6% during the second quarter of 2023. This decision was disclosed in the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). Following the sale of 364 shares, Claret Asset Management now owns 61,126 shares of the healthcare giant, which constitutes approximately 1.2% of its total portfolio. Johnson & Johnson ranks as the firm’s 21st largest position, valued at about $9.34 million.

Among other institutional investors, W.H. Cornerstone Investments Inc. has also adjusted its stake in Johnson & Johnson, increasing it by 0.7% to hold 7,896 shares, now worth $1.21 million. Similarly, YANKCOM Partnership raised its investment by 0.8%, acquiring an additional 58 shares to reach a total of 7,042 shares, valued at $1.08 million. Other notable adjustments include Greenup Street Wealth Management LLC, which boosted its position by 3.1%, and Ellis Investment Partners LLC, which increased its stake by 0.7%.

Insider Activity and Company Performance

In related news, on September 4, 2023, Jennifer L. Taubert, Executive Vice President of Johnson & Johnson, sold 56,471 shares at an average price of $177.81, totaling approximately $10.04 million. Following this transaction, Taubert holds 178,013 shares, valued at about $31.65 million, reflecting a 24.08% decrease in her ownership.

Johnson & Johnson’s stock experienced a slight decline of 0.3% following its latest earnings announcement on August 30, 2023. The company reported earnings per share (EPS) of $2.26 for the quarter, with total revenues of $24.02 billion. The organization also noted a net margin of 27.26% and a return on equity of 32.73%. Analysts project that Johnson & Johnson will achieve an EPS of $10.58 for the current fiscal year.

Dividend Declaration and Analyst Ratings

On the dividend front, Johnson & Johnson declared a quarterly dividend of $1.30 to be paid on December 9, 2023. Shareholders of record on November 25, 2023 will receive this dividend, translating to an annualized payout of $5.20 and a yield of 2.5%. The ex-dividend date is also set for November 25, 2023, with the company’s current payout ratio standing at 50.19%.

Recent analyst reports have generally favored Johnson & Johnson, with several adjusting their price targets. HSBC raised its price target from $210.00 to $215.00 and assigned a “buy” rating. Similarly, Goldman Sachs increased its target from $186.00 to $212.00, while Raymond James Financial upped its estimate from $174.00 to $209.00. Currently, four analysts have rated the stock as a Strong Buy, thirteen as Buy, and nine as Hold, leading to an average rating of “Moderate Buy” with a target price of $201.05.

The ongoing adjustments in institutional investments, along with solid performance metrics and favorable analyst ratings, indicate a dynamic environment for Johnson & Johnson as it navigates the healthcare market.